HOME Top Market Reports Specialty Fats & Oils Market by Oil Type (Palm, Soybean, Rapeseed, Coconut), Fat Type (CBE, CBR, CBS, CBI), Application (Chocolates & Confectioneries, Bakery, Dairy Products), Form (Dry, Liquid), and Region - Global Forecast to 2023

Specialty Fats & Oils Market by Oil Type (Palm, Soybean, Rapeseed, Coconut), Fat Type (CBE, CBR, CBS, CBI), Application (Chocolates & Confectioneries, Bakery, Dairy Products), Form (Dry, Liquid), and Region - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: March 2018
Report Code: FB 4946

 

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The specialty fats market was valued at USD 1.96 Billion in 2016 and is projected to reach USD 3.66 Billion by 2023, growing at a CAGR of 9.4%. The specialty oils market was valued at USD 13.83 Billion in 2016 and is projected to reach USD 21.19 Billion by 2023, growing at a CAGR of 6.3%. The base year considered for the study is 2016 while the forecast period is from 2017 to 2023. The basic objective of the report is to define, segment, and project the global market size for specialty fats & oils on the basis of type, form, application, and region. It also helps to understand the structure of the specialty fats & oils market by identifying its various segments. The other objectives include analyzing the opportunities in the market for the stakeholders and providing a competitive landscape of market trends, analyzing the macro and microindicators of this market to provide factor analysis, and to project the size of the specialty fats & oils market.

This report includes estimations of the market size in terms of value (USD million). Both, top-down and bottom-up approaches have been used to estimate and validate the size of the global specialty fats & oils market and to estimate the size of various other dependent submarkets in the overall market. The key players in the market have been identified through secondary research; some of the sources are press releases, paid databases such as Factiva and Bloomberg, annual reports, and financial journals; their market shares in respective regions have also been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and were verified through primary sources. The figure below shows the breakdown of profiles of industry experts that participated in the primary discussions.

Specialty Fats & Oils Market

To know about the assumptions considered for the study, download the pdf brochure

The key players that are profiled in the report include Cargill (US), Wilmar International (Singapore), Bunge (US), AAK AB (Sweden), and IOI Group (Malaysia) , Manildra (Australia), D&L Industries (Philippines), Fuji Oil (Japan), Musim Mas (Singapore), Mewah International (Singapore), IFFCO (UAE), and The Nisshin Oillio Group (Japan).

This report is targeted at the existing players in the industry, which include the following:

  • Regulatory and research organizations
  • Raw material producers, suppliers, and distributors
  • Equipment manufacturers, traders, distributors, and dealers
  • Specialty fats & oils manufacturers, traders, distributors, and dealers

“The study answers several questions for stakeholders; primarily, which market segments to focus on in the next two to five years for prioritizing efforts and investments.”

Scope of the Report

On the basis of Type, the specialty fats & oils market has been segmented as follows:

  • Cocoa Butter Equivalents (CBE)
  • Cocoa Butter Substitutes (CBS)
  • Cocoa Butter Replacers (CBR)
  • Cocoa Butter Improvers (CBI)
  • Dairy Fat Replacers (DFRs)
  • Palm oil
  • Soybean oil
  • Coconut oil
  • Cottonseed oil
  • Rapeseed oil

On the basis of Application, the specialty fats & oils market has been segmented as follows:

  • Chocolates & confectioneries
  • Bakery products
  • Processed foods
  • Dairy products

On the basis of Form, the specialty fats & oils market has been segmented as follows:

  • Dry
  • Liquid

On the basis of Region, the specialty fats & oils market has been segmented as follows:

  • North America
  • Europe
  • Asia Pacific
  • RoW (South America, the Middle East, and Africa)

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

  • Further breakdown of the Rest of European specialty fats & oils market into Poland, Belgium, and France

Company Information

  • Detailed analysis and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
           1.2.1 Specialty Fats
           1.2.2 Specialty Oils
    1.3 Study Scope
    1.4 Years Considered
    1.5 Currency Considered
    1.6 Units Considered
    1.7 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Key Industry Insights
                    2.1.2.2 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Research Assumptions & Limitations
           2.4.1 Assumptions
           2.4.2 Limitations
    2.5 Macroeconomic Indicators
           2.5.1 Developing Economies With Emerging Middle-Income Population and Increasing Per Capita Income & Consumption
                    2.5.1.1 GDP (PPP), 2016
                    2.5.1.2 Rise in the Middle-Class Population and Income
                    2.5.1.3 Increase in Global Per Capita Disposable Income

3 Executive Summary (Page No. - 31)

4 Premium Insights (Page No. - 35)
    4.1 Attractive Opportunities in the Specialty Oils Market
    4.2 Specialty Fats Market Size, By Type
    4.3 Specialty Oils Market Size, By Form
    4.4 Asia Pacific: Specialty Oils Market, By Country & Application
    4.5 Asia Pacific: Specialty Fats Market, By Country & Application
    4.6 Specialty Fats Market, By Key Markets

5 Market Overview (Page No. - 40)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Gap Between Cocoa Butter Demand and Supply
                    5.2.1.2 Growth in the Consumption of Confectionery and Processed Foods
           5.2.2 Restraints
                    5.2.2.1 Health Concerns Related to Excessive Consumption of Fats & Oils
           5.2.3 Opportunities
                    5.2.3.1 Demand for Clean-Label Products From Consumers
                    5.2.3.2 Growing Production and Trade of Raw Material
           5.2.4 Challenges
                    5.2.4.1 High Dependence on Imports, Leading to High Cost of End Products

6 Industry Trends (Page No. - 45)
    6.1 Introduction
    6.2 Supply Chain Analysis

7 Specialty Fats & Oils Market, By Type (Page No. - 47)
    7.1 Introduction
    7.2 Specialty Fats
           7.2.1 Cocoa Butter Equivalents
           7.2.2 Cocoa Butter Substitutes
           7.2.3 Cocoa Butter Replacers
           7.2.4 Cocoa Butter Improvers
           7.2.5 Dairy Fat Replacers
           7.2.6 Other Specialty Fats
    7.3 Specialty Oils
           7.3.1 Palm Oil
           7.3.2 Soybean Oil
           7.3.3 Coconut Oil
           7.3.4 Cotton Seed Oil
           7.3.5 Rapeseed Oil
           7.3.6 Other Specialty Oils

8 Specialty Fats & Oils Market, By Application (Page No. - 58)
    8.1 Introduction
    8.2 Chocolates & Confectioneries
    8.3 Bakery Products
    8.4 Processed Foods
    8.5 Dairy Products
    8.6 Other Applications

9 Specialty Fats & Oils Market, By Form (Page No. - 67)
    9.1 Introduction
    9.2 Dry
    9.3 Liquid

10 Specialty Fats & Oils Market, By Functionality (Page No. - 72)
     10.1 Introduction
     10.2 Molding
     10.3 Filling
     10.4 Coating
     10.5 Stabilizing
     10.6 Texturing
     10.7 Health
     10.8 Other Functions

11 Brand Overview (Page No. - 75)
     11.1 Introduction
     11.2 Cargill: Socolate, Hysoc, and Cocolate
             11.2.1 Socolate
             11.2.2 Hysoc
             11.2.3 Cocolate
     11.3 Wilmar International Limited: Wilchoc, Besschoc, and Wilflakes
             11.3.1 Wilchoc
             11.3.2 Besschoc
             11.3.3 Wilflakes
     11.4 Musim Mas Holdings
             11.4.1 Cbe Choco
             11.4.2 Goldfiller
             11.4.3 Chocoxan

12 Specialty Fats & Oils Market, By Region (Page No. - 78)
     12.1 Introduction
     12.2 North America
             12.2.1 US
             12.2.2 Canada
             12.2.3 Mexico
     12.3 Europe
             12.3.1 UK
             12.3.2 Germany
             12.3.3 Ireland
             12.3.4 Norway
             12.3.5 Netherlands
             12.3.6 Italy
             12.3.7 Spain
             12.3.8 Switzerland
             12.3.9 Rest of Europe
     12.4 Asia Pacific
             12.4.1 China
             12.4.2 Indonesia
             12.4.3 India
             12.4.4 Malaysia
             12.4.5 South Korea
             12.4.6 Rest of Asia Pacific
     12.5 Rest of the World (RoW)
             12.5.1 Middle East
             12.5.2 Africa
             12.5.3 South America

13 Competitive Landscape (Page No. - 124)
     13.1 Overview
     13.2 Market Ranking
             13.2.1 Key Market Strategies
     13.3 Competitive Scenario
             13.3.1 Expansions & Investments
             13.3.2 Acquisitions
             13.3.3 New Product Launches
             13.3.4 Agreements, Joint Ventures, Collaborations & Partnerships

14 Company Profiles (Page No. - 131)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis & MnM View)*
     14.1 Cargill
     14.2 Wilmar International
     14.3 Bunge
     14.4 AAK AB
     14.5 IoI Group
     14.6 International Foodstuff Company Limited (IFFCO)
     14.7 Mewah International
     14.8 Musim Mas
     14.9 Fuji Oil
     14.10 The Nisshin Oillio Group
     14.11 D&L Industries
     14.12 Manildra Group

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis & MnM View Might Not Be Captured in Case of Unlisted Companies.

15 Appendix (Page No. - 172)
     15.1 Discussion Guide
     15.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.3 Introducing RT: Real-Time Market Intelligence
     15.4 Available Customizations
     15.5 Related Reports
     15.6 Author Details


List of Tables (119 Tables)

Table 1 Specialty Fats Market Size, By Type, 2015–2023 (USD Million)
Table 2 Specialty Fats Market Size, By Type, 2015–2023 (KT)
Table 3 Cocoa Butter Equivalent Market Size, By Region, 2015–2023 (USD Million)
Table 4 Cocoa Butter Substitutes Market Size, By Region, 2015–2023 (USD Million)
Table 5 Cocoa Butter Replacers Market Size, By Region, 2015–2023 (USD Million)
Table 6 Cocoa Butter Improvers Market Size, By Region, 2015–2023 (USD Million)
Table 7 Dairy Fat Replacers Market Size, By Region, 2015–2023 (USD Million)
Table 8 Other Specialty Fats Market Size, By Region, 2015–2023 (USD Million)
Table 9 Specialty Oils Market Size, By Type, 2015–2023 (USD Million)
Table 10 Specialty Oils Market Size, By Type, 2015–2023 (KT)
Table 11 Palm Oil Market Size, By Region, 2015–2023 (USD Million)
Table 12 Soybean Oil Market Size, By Region, 2015–2023 (USD Million)
Table 13 Coconut Oil Market Size, By Region, 2015–2023 (USD Million)
Table 14 Cotton Seed Oil Market Size, By Region, 2015–2023 (USD Million)
Table 15 Rapeseed Oil Market Size, By Region, 2015–2023 (USD Million)
Table 16 Other Specialty Oils Market Size, By Region, 2015–2023 (USD Million)
Table 17 Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 18 Specialty Oils Market Size, By Application, 2015–2023 (KT)
Table 19 Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 20 Specialty Fats Market Size, By Application, 2015–2023 (KT)
Table 21 Chocolates & Confectioneries: Specialty Oils Market Size, By Region, 2015–2023 (USD Million)
Table 22 Chocolates & Confectioneries: Specialty Fats Market Size, By Region, 2015–2023 (USD Million)
Table 23 Bakery Products: Specialty Oils Market Size, By Region, 2015–2023 (USD Million)
Table 24 Bakery Products: Specialty Fats Market Size, By Region, 2015–2023 (USD Million)
Table 25 Processed Foods: Specialty Oils Market Size, By Region, 2015–2023 (USD Million)
Table 26 Processed Foods: Specialty Fats Market Size, By Region, 2015–2023 (USD Million)
Table 27 Dairy Products: Specialty Oils Market Size, By Region, 2015–2023 (USD Million)
Table 28 Dairy Products: Specialty Fats Market Size, By Region, 2015–2023 (USD Million)
Table 29 Other Applications: Specialty Oils Market Size, By Region, 2015–2023 (USD Million)
Table 30 Other Applications: Specialty Fats Market Size, By Region, 2015–2023 (USD Million)
Table 31 Specialty Fats Market Size, By Form, 2015–2023 (USD Million)
Table 32 Specialty Fats Market Size, By Form, 2015–2023 (KT)
Table 33 Specialty Oils Market Size, By Form, 2015–2023 (USD Million)
Table 34 Specialty Oils Market Size, By Form, 2015–2023 (KT)
Table 35 Dry Specialty Fats Market Size, By Region, 2015–2023 (USD Million)
Table 36 Dry Specialty Oils Market Size, By Region, 2015–2023 (USD Million)
Table 37 Liquid Specialty Fats Market Size, By Region, 2015–2023 (USD Million)
Table 38 Liquid Specialty Oils Market Size, By Region, 2015–2023 (USD Million)
Table 39 Specialty Oils Market Size, By Region, 2015–2023 (USD Million)
Table 40 Specialty Oils Market Size, By Region, 2015–2023 (KT)
Table 41 Specialty Fats Market Size, By Region, 2015–2023 (USD Million)
Table 42 Specialty Fats Market Size, By Region, 2015–2023 (KT)
Table 43 Specialty Oils Market Size, By Type, 2015–2023 (USD Million)
Table 44 Specialty Fats Market Size, By Type, 2015–2023 (USD Million)
Table 45 Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 46 Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 47 Specialty Oils Market Size, By Form, 2015–2023 (USD Million)
Table 48 Specialty Fats Market Size, By Form, 2015–2023 (USD Million)
Table 49 North America: Specialty Fats Market Size, By Country, 2015–2023 (USD Million)
Table 50 North America: Specialty Oils Market Size, By Country, 2015–2023 (USD Million)
Table 51 North America: Specialty Fats Market Size, By Type, 2015–2023 (USD Million)
Table 52 North America: Specialty Oils Market Size, By Type, 2015–2023 (USD Million)
Table 53 North America: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 54 North America: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 55 North America: Specialty Fats Market Size, By Form, 2015–2023 (USD Million)
Table 56 North America: Specialty Oils Market Size, By Form, 2015–2023 (USD Million)
Table 57 US: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 58 US: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 59 Canada: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 60 Canada: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 61 Mexico: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 62 Mexico: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 63 Europe: Specialty Oils Market Size, By Country, 2015–2023 (USD Million)
Table 64 Europe: Specialty Fats Market Size, By Country, 2015–2023 (USD Million)
Table 65 Europe: Specialty Oils Market Size, By Type, 2015–2023 (USD Million)
Table 66 Europe: Specialty Fats Market Size, By Type, 2015–2023 (USD Million)
Table 67 Europe: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 68 Europe: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 69 Europe: Specialty Oils Market Size, By Form, 2015–2023 (USD Million)
Table 70 Europe: Specialty Fats Market Size, By Form, 2015–2023 (USD Million)
Table 71 UK: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 72 UK: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 73 Germany: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 74 Germany: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 75 Ireland: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 76 Norway: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 77 Netherlands: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 78 Italy: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 79 Spain: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 80 Switzerland: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 81 Rest of Europe: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 82 Rest of Europe: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 83 Asia Pacific: Specialty Oils Market Size, By Country, 2015–2023 (USD Million)
Table 84 Asia Pacific: Specialty Fats Market Size, By Country, 2015–2023 (USD Million)
Table 85 Asia Pacific: Specialty Oils Market Size, By Type, 2015–2023 (USD Million)
Table 86 Asia Pacific: Specialty Fats Market Size, By Type, 2015–2023 (USD Million)
Table 87 Asia Pacific: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 88 Asia Pacific: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 89 Asia Pacific: Specialty Oils Market Size, By Form, 2015–2023 (USD Million)
Table 90 Asia Pacific: Specialty Fats Market Size, By Form, 2015–2023 (USD Million)
Table 91 China: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 92 China: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 93 Indonesia: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 94 Indonesia: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 95 India: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 96 India: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 97 Malaysia: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 98 Malaysia: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 99 South Korea: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 100 Rest of Asia Pacific: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 101 Rest of Asia Pacific: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 102 RoW: Specialty Oils Market Size, By Region, 2015–2023 (USD Million)
Table 103 RoW: Specialty Fats Market Size, By Region, 2015–2023 (USD Million)
Table 104 RoW: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 105 RoW: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 106 RoW: Specialty Oils Market Size, By Type, 2015–2023 (USD Million)
Table 107 RoW: Specialty Fats Market Size, By Type, 2015–2023 (USD Million)
Table 108 RoW: Specialty Oils Market Size, By Form, 2015–2023 (USD Million)
Table 109 RoW: Specialty Fats Market Size, By Form, 2015–2023 (USD Million)
Table 110 Middle East: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 111 Middle East: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 112 Africa: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 113 Africa: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 114 South America: Specialty Oils Market Size, By Application, 2015–2023 (USD Million)
Table 115 South America: Specialty Fats Market Size, By Application, 2015–2023 (USD Million)
Table 116 Expansions & Investments, 2014–2017
Table 117 Acquisitions, 2012–2016
Table 118 New Product Launches, 2012–2017
Table 119 Agreements, Joint Ventures, Collaborations & Partnerships, 2012–2017


List of Figures (45 Figures)

Figure 1 Specialty Fats & Oils Market Segmentation
Figure 2 Specialty Fats & Oils Market: Geographic Segmentation
Figure 3 Specialty Fats & Oils Market: Research Design
Figure 4 Breakdown of Primaries Interviews: By Company Type, Designation, and Region
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Data Triangulation Methodology
Figure 8 Top 5 Economies Based on GDP (PPP) are China, Us, India, Japan, and Germany (2016)
Figure 9 Middle-Income Population in Asia Pacific is Projected to Account for the Largest Share in the Global Market By 2030
Figure 10 Increase in Global Per Capita Disposable Income, 2015–2024
Figure 11 Specialty Fats Market Size, By Region, 2017 vs 2023 (USD Million)
Figure 12 Specialty Oils Market Size, By Type, 2017 vs 2023 (USD Million)
Figure 13 Chocolates & Confectioneries: Most Attractive Market for the Application of Specialty Fats
Figure 14 Asia Pacific is Projected to Register Highest Growth Rate in Specialty Oils Market, 2017–2023
Figure 15 Emerging Markets Offer Attractive Growth Opportunities in the Specialty Oils Market
Figure 16 Asia Pacific Accounted for the Largest Market Size Across All the Specialty Fats Types in 2016
Figure 17 Liquid Accounted for the Largest Market Size Across All the Regional Markets for Specialty Oils in 2016
Figure 18 China is Estimated to Account for the Largest Share in the Asia Pacific Specialty Oils Market in 2017
Figure 19 Bakery Products are Estimated to Account for the Largest Share in the Asia Pacific Specialty Fats Market in 2017
Figure 20 India & China to Grow at the Highest CAGR in the Specialty Fats Market Between 2017 & 2023
Figure 21 Specialty Fats & Oils Market Dynamics
Figure 22 Supply Chain Analysis
Figure 23 Specialty Fats Market Share (Value), By Type, 2016
Figure 24 Specialty Fats Market Share (Value), By Application, 2016
Figure 25 Specialty Fats Market Share, By Form, (USD Million), 2016
Figure 26 Geographic Snapshot of Specialty Oils Market (2017–2023): Rapidly Growing Markets are Emerging as New Hotspots
Figure 27 North America: Market Snapshot
Figure 28 Asia Pacific: Market Snapshot
Figure 29 Key Developments of the Leading Players in the Specialty Fats & Oils Market Between 2012 & 2017
Figure 30 Top Five Companies in the Specialty Fats & Oils Market, 2016
Figure 31 Specialty Fats & Oils Market Developments, By Growth Strategy, 2012–2017
Figure 32 Cargill: Company Snapshot
Figure 33 Cargill: SWOT Analysis
Figure 34 Wilmar International: Company Snapshot
Figure 35 Wilmar International: SWOT Analysis
Figure 36 Bunge: Company Snapshot
Figure 37 Bunge: SWOT Analysis
Figure 38 AAK AB: Company Snapshot
Figure 39 AAK AB: SWOT Analysis
Figure 40 IoI Group: Company Snapshot
Figure 41 IoI Loders Croklaan: SWOT Analysis
Figure 42 Mewah International: Company Snapshot
Figure 43 Fuji Oil: Company Snapshot
Figure 44 Nisshin Oillio Group: Company Snapshot
Figure 45 D&L Industries: Company Snapshot

The global specialty fats market was valued at USD 2.13 Billion in 2017, and is projected to reach USD 3.66 Billion by 2023, growing at a CAGR of 9.4%. The global specialty oils market was valued at USD 14.67 Billion in 2017, and is projected to reach USD 21.19 Billion by 2023, growing at a CAGR of 6.3%. The market is primarily driven by factors such as the increasing gap between cocoa butter demand & supply and the increase in the consumption of confectionery and processed foods.

On the basis of oil types, the specialty fats & oils market is segmented into palm oil, soybean oil, coconut oil, cottonseed oil, and rapeseed oil. The palm segment accounted for the largest share, followed by the soybean segment in 2016. Palm oils are majorly used to produce specialty oils & fats due to their compositions and wide availability. Palm oil is refined, bleached, and deodorized (RBD) to obtain specialty fat.

On the basis of application, the specialty fats & oils market is segmented into chocolates & confectioneries, bakery products, processed foods, and dairy products. The bakery products segment accounted for the largest share in 2016. High-income countries such as the UK, Canada, the US, Germany, and Spain have experienced growth in the production and consumption of ultra-processed food, mainly bakery products such as bread, pastries, cakes, and cookies, in the past few years. Shortenings, creaming fats, and specialty oils, such as cake oils, are increasingly used to enhance the product performance and to ensure higher consumer acceptance. These factors have accelerated the growth of this segment.

On the basis of form, the dry segment accounted for a larger market share in 2016, followed by the liquid segment. Commercially, vegetable oils are processed to attain a solid fat with optimum fat content to provide the required melting properties in a particular application. Their dry form also helps them to function as a replacer for dairy and cocoa fats and bear a resemblance either in the physical and/or chemical properties to dairy butter, dairy whipping cream, and cocoa butter without compromising on the palatability and quality of the end product. Due to these factors, the market for the dry form of specialty fats accounted for a larger share.

Specialty Fats & Oils Market

The Asia Pacific region is projected to be the fastest-growing market, and it also accounted for the largest share in 2016. The rising income, purchasing power, rapid growth of the middle-class population, and consumer demand for processed products provide promising prospects for growth and diversification in the region’s specialty fats & oils sector.

The major restraining factor for the specialty fats & oils market is the rising health concerns related to excessive consumption of fats & oils. Confectionery fats are one of the major food sources of trans-fat. The consumption of trans-fatty acids is strongly associated with an increased risk of cardiovascular diseases and cancer. As a result, there are more regulations on the usage of liquid oils used directly in sweet goods and icings. These factors are expected to restrict the growth of the specialty fats & oils market in the long run.

Companies such as Cargill (US), Wilmar International (Singapore), Bunge (US), AAK AB (Sweden), and IOI Group (Malaysia) have acquired a leading market position through the provision of a broad product portfolio, along with a focus on diverse end-user segments.

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